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Reading List
Notes: - Read with a question in mind?
Questions:
- What are the mechanisms for development (PPP, decentralization, institutions)?
- What are the key theories in international development?
- How do different theories explain the causes of poverty and inequality?
- What are the key debates in the field of international development?
1. Classical Economics
- Smith, A. (1776). The Wealth of Nations: Foundational text for classical economics, focusing on free markets, division of labor, and the “invisible hand.”
- Ricardo, D. (1817). The Principles of Political Economy and Taxation: Key text in classical economics, discussing comparative advantage and trade.
- Mill, J.S. (1848). Principles of Political Economy: An important synthesis of classical economics, bridging the works of Smith and Ricardo with social philosophy.
2. Political Economy and Critique of Capitalism
- Marx, K. (1973). Capital: A Critique of Political Economy: Marx’s analysis of capitalism, focusing on class struggle, labor value, and exploitation.
- Polanyi, K. (1957). The Great Transformation: Critique of market society and its social and political impacts.
- Veblen, T. (1899). The Theory of the Leisure Class: A critique of consumerism and capitalism, introducing the concept of “conspicuous consumption.”
- Lenin, V.I. (1917). Imperialism, the Highest Stage of Capitalism: Marxist analysis of capitalism’s expansion through imperialism.
3. Economic Growth and Development
- Schumpeter, J. (1934). The Theory of Economic Development: Focus on innovation, entrepreneurship, and their roles in economic growth.
- Rostow, W.W. (1960). The Stages of Economic Growth: A Non-Communist Manifesto: A theory of economic modernization and development.
4. Population and Resource Economics
- Malthus, T. (1798). An Essay on the Principle of Population: Early work on population dynamics and resource scarcity.
- George, H. (1879). Progress and Poverty: Examines the relationship between economic progress, poverty, and land ownership, advocating a land value tax.
5. Modern Economic Thought
- Keynes, J. M. (1936). The General Theory of Employment, Interest and Money: Groundbreaking work in macroeconomics, introducing concepts like aggregate demand and government intervention.
- Friedman, M. (1962). Capitalism and Freedom: Advocates for free markets and critiques government intervention, foundational for neoliberal thought.
finished - Samuelson, P.A. (1947). Foundations of Economic Analysis: Establishes mathematical foundations for modern economics.
- Hayek, F.A. (1944). The Road to Serfdom: Critique of central planning and defense of free-market liberalism.
6. Historical and Institutional Economics
- Weber, M. (1905). The Protestant Ethic and the Spirit of Capitalism: Explores the cultural and religious origins of capitalism.
- Galbraith, J.K. (1958). The Affluent Society: Critique of postwar consumerism and a call for public investment.
7. Macroeconomics and Monetary Theory
- Keynes, J.M. (1936). The General Theory of Employment, Interest, and Money: Though published in the interwar period, it profoundly shaped post-war macroeconomics.
- Samuelson, P.A. (1947). Foundations of Economic Analysis: Introduced mathematical rigor to economics, emphasizing optimization and equilibrium.
- Friedman, M. (1968). A Monetary History of the United States: A landmark work in monetarism, advocating the importance of monetary policy.
- Lucas, R.E. (1976). Studies in Business Cycle Theory: Laid the foundation for rational expectations and modern macroeconomic modeling.
8. Microeconomics and Game Theory
- von Neumann, J. & Morgenstern, O. (1944). Theory of Games and Economic Behavior: The foundational text of game theory.
- Debreu, G. (1959). Theory of Value: Introduced general equilibrium theory using formal mathematics.
- Becker, G.S. (1976). The Economic Approach to Human Behavior: Extended economic analysis to areas like education, family, and crime.
9. Development Economics
- Sen, A. (1981). Poverty and Famines: Introduced the capabilities approach, shifting the focus of development from income to well-being.
- Lewis, W.A. (1954). Economic Development with Unlimited Supplies of Labor: A key text in development economics, explaining the dual-sector model.
- Rostow, W.W. (1960). The Stages of Economic Growth: A theory of economic modernization.
10. Behavioral and Experimental Economics
- Kahneman, D. & Tversky, A. (1979). Prospect Theory: An Analysis of Decision under Risk: A foundational paper in behavioral economics.
- Thaler, R.H. (1991). Quasi-Rational Economics: Explores how psychological factors influence economic decision-making.
11. Institutional and Political Economy
- North, D.C. (1990). Institutions, Institutional Change, and Economic Performance: A classic in institutional economics, exploring how institutions shape economic outcomes.
- Ostrom, E. (1990). Governing the Commons: Analyzes how communities manage shared resources without relying on markets or central governments.
12. Inequality and Capitalism
- Piketty, T. (2013). Capital in the Twenty-First Century: Explores inequality dynamics and the accumulation of wealth.
- Stiglitz, J.E. (2012). The Price of Inequality: Examines the economic and political consequences of inequality.
13. Environmental and Resource Economics
- Coase, R.H. (1960). The Problem of Social Cost: Introduced the Coase theorem, a key idea in environmental economics.
- Solow, R.M. (1956). A Contribution to the Theory of Economic Growth: Introduced the concept of sustainable economic growth.
14. Other
Introductory and General Overviews
- Samuelson, P.A. & Nordhaus, W.D. (1948, updated editions). Economics: A classic introductory textbook covering both microeconomics and macroeconomics.
- Mankiw, N.G. (1998, updated editions). Principles of Economics: A popular textbook with a clear and accessible introduction to core economic principles.
- Krugman, P. & Wells, R. (2005, updated editions). Economics: Offers a modern perspective with a focus on policy and practical applications.
Historical Perspectives
- Heilbroner, R. (1953). The Worldly Philosophers: A highly readable history of economic thought, introducing key thinkers like Adam Smith, Karl Marx, and John Maynard Keynes.
finished - Backhouse, R.E. (2002). The Penguin History of Economics: Traces the evolution of economic thought from ancient times to the modern day.
Modern Overviews
- Banerjee, A.V. & Duflo, E. (2019). Good Economics for Hard Times: Provides insights into contemporary economic challenges like inequality, trade, and migration.
- Acemoglu, D. & Robinson, J. (2012). Why Nations Fail: Examines the role of institutions in shaping economic success and failure.
- Banergee, A. & Duflo, E. (2011). Poor Economics: Explores the economics of poverty and development, drawing on field experiments and empirical research.
finished
Behavioral Economics and Decision-Making
- Thaler, R.H. & Sunstein, C.R. (2008). Nudge: Explores how small interventions can influence economic decision-making.
finished - Kahneman, D. (2011). Thinking, Fast and Slow: Examines how cognitive biases affect decisions, including economic choices.
finished
Advanced Surveys
- Blanchard, O. (2017). Macroeconomics: A comprehensive macroeconomics textbook, often used in advanced undergraduate and graduate courses.
- Varian, H.R. (1992, updated editions). Microeconomic Analysis: A rigorous treatment of microeconomics for advanced students.
- Romer, D. (1996, updated editions). Advanced Macroeconomics: Provides deeper insights into macroeconomic theory.
For Critical Perspectives
- Skidelsky, R. (2009). Keynes: The Return of the Master: Revisits Keynesian economics in light of the global financial crisis.
Questions:
- What are the essential tools for an economist?
- What software and programming languages are commonly used in economics?
Software
Data Science and Computational Tools for Economists
- Wickham, H. & Grolemund, G. (2017). R for Data Science: An excellent introduction to data science workflows and statistical analysis using R, invaluable for economists handling data.
finished
Mathematics
Mathematics for Economics
- Chiang, A.C. & Wainwright, K. (2005). Fundamental Methods of Mathematical Economics: A widely-used, accessible textbook introducing calculus, linear algebra, and optimization techniques in economic contexts.
10%
Econometrics
Introductory Econometrics
- Stock, J.H. & Watson, M.W. (2003, updated editions). Introduction to Econometrics: A highly accessible introduction to econometric methods, focusing on real-world applications and intuition.
finished
Intermediate and Applied Econometrics
- Angrist, J.D. & Pischke, J-S. (2009). Mostly Harmless Econometrics: An Empiricist’s Companion: Focuses on applied econometrics with clear explanations of causal inference techniques.
Advanced Econometrics
- Hayashi, F. (2000). Econometrics: An excellent resource for graduate-level econometrics, with a rigorous approach to the theoretical foundations.
Causal Inference and Experimental Econometrics
- Angrist, J.D. & Pischke, J-S. (2014). Mastering ’Metrics: The Path from Cause to Effect: A user-friendly book on causal inference with real-world examples.
Historical and Conceptual Perspectives
- Hoover, K.D. (2001). Causality in Macroeconomics: Explores the philosophical and econometric foundations of causality.
Education
Early Childhood Education
Questions:
- What are the key challenges facing China’s development?
- What made China’s economic growth so successful?
- What does China’s growth look like in the future?
- Role of central/local government in China’s economic growth?
- What can we learn from China’s economic development?
- What is the China model for economic growth?
China’s Global Role
- Shambaugh, D. (2022). China’s Future: Examines the challenges China faces in its political, economic, and societal development and its potential trajectories.
finished
Development and Inequality
- Rosling, M. & Rozelle, S. (2020). Invisible China: How the Urban-Rural Divide Threatens China’s Rise: Examines the structural challenges caused by China’s rural-urban divide and the implications for its development.
finished
Politics and Leadership
- Rudd, K. (2024). On Xi Jinping: Offers a deep dive into Xi Jinping’s leadership and its impact on China’s future.
- Shum, D. (2021). Red Roulette: An Insider’s Story of Wealth, Power, Corruption, and Vengeance in Today’s China: A gripping insider’s account of wealth, corruption, and politics in modern China.
finished